System for external validation of secure process transactions

ABSTRACT

A closed-loop system is operatively connected with a block chain distributed network for using the block chain distributed network for facilitating operation of a transaction record sharing system between member institutions comprising a host system and a source system. Host and source institutions function to share the transaction records from member institutions such that a host institution that is a member of the block chain may obtain the transaction records of all source institutions of the block chain. The transaction records are validated on the block chain such that the transaction records are secure represent a source of truth.

BACKGROUND

Systems for providing on-line transactions are known where a user mayengage in transactions with multiple unrelated parties such as unrelatedfinancial institutions. In order to access information relating to thetransactions from the different unrelated parties the user may berequired to access the transaction information from each financialinstitution individually. Alternatively, an aggregator may access theinformation from the different unrelated parties on behalf of the userto provide a single access point for the user; however, the aggregatoris unrelated to the financial institutions that are the sources of theinformation such that access to the transactional information may belimited and/or the transaction information of the financial institutionsthat are the sources of information may be retained and accessed by theunrelated aggregator.

BRIEF SUMMARY

Embodiments of the present invention address these and/or other needs byproviding an innovative system, method and computer program product foroperatively connecting with a block chain distributed network and usingthe block chain distributed network for facilitating the sharing ofnon-monetary information between financial institutions such that usersmay access a single access point to obtain a consolidated transactionrecord.

According to embodiments of the invention, a host system is operativelyconnected with a block chain distributed network and uses the blockchain distributed network to facilitate the exchange of non-monetarytransaction information between different member financial institutionscomprising a host system and a source system and with a user. The systemcomprises a distributed memory device storing logic and rules for theblock chain and a processing device operatively coupled to the memorydevice. The processing device is configured to execute computer-readableprogram code to: validate the transaction record of a user based onlogic rules for the block chain; post validated transaction record todistributed memory of block chain; access the validated transactionrecord of member institutions of the block chain.

The processing device may be configured to execute computer-readableprogram code further to allow access to the validated transactionrecords of member institutions. The processing device may be configuredto execute computer-readable program code further to communicatevalidation of the transaction record to the block chain distributednetwork. The processing device may be configured to executecomputer-readable program code further to update the distributed memorydevice with information indicating validation of the transaction record.The validated transaction record may include an authentication key orsignature that is recognized by other member institutions and certifiesthe authenticity of the information. The authentication key or signaturemay be unique to the member institution. The logic rules may be storedin the distributed memory device.

According to embodiments of the invention, a source system isoperatively connected with a block chain distributed network for usingthe block chain distributed network for facilitating the exchange ofnon-monetary transaction information between different memberinstitutions comprising host and source systems and with a user. Thesystem comprises: a distributed memory device storing logic rules forthe block chain and a processing device operatively coupled to thememory device. The processing device is configured to executecomputer-readable program code to: validate the transaction record of auser based on logic rules for the block chain; post validatedtransaction record to distributed memory of block chain; allow access tothe validated transaction record of member institutions of the blockchain by a member institution of the block chain.

The processing device may be configured to execute computer-readableprogram code further to access the validated transaction records ofmember institutions. The processing device may be configured to executecomputer-readable program code further to communicate validation of thetransaction record to the block chain distributed network. Theprocessing device may be configured to execute computer-readable programcode further to update a distributed ledger with information indicatingvalidation of the transaction record and provide access to thedistributed ledger to the block chain distributed network.

According to embodiments of the invention, a method for execution on aclosed-loop system operatively connected with a block chain distributednetwork is provided. The method comprises validating the transactionrecord of a user based on logic rules for the block chain from adistributed memory device; posting validated transaction record to thedistributed memory of the block chain; accessing the validatedtransaction record of member institutions of the block chain; allowingaccess to the validated transaction record of member institutions of theblock chain by a member institution of the block chain.

The method may comprise communicating validation of the transactionrecord to the block chain distributed network. The method may compriseupdating a distributed ledger with information indicating validation ofthe transaction record. The step of validating the transaction record ofa user may comprise adding an authentication key or signature to thetransaction record. The method may comprise receiving a verified requestfor the transaction information. The authentication key or signature maybe unique to the source system. The step of allowing access to theinformation by a host system may comprise allowing access to thedistributed memory in the block chain.

According to embodiments of the invention a computer program product forexecution on a system operatively connected with a block chaindistributed network is provided. The computer program product uses theblock chain distributed network to facilitate operation of a transactionrecord sharing system between member institutions. The computer-readableprogram code portions comprise: an executable portion configured tovalidate the transaction record of a user based on logic rules for theblock chain; an executable portion configured to post validatedtransaction record to distributed memory of block chain; an executableportion configured to access the validated transaction record of memberinstitutions of the block chain; an executable portion configured toallow access to the validated transaction record of member institutionsof the block chain information by a host institution. The computerprogram product may comprise an executable portion configured to attachan authentication key or signature to the transaction record.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram illustrating a system for external validationof secure process transactions using block chain distributed networksystem and environment, in accordance with embodiments of the invention;

FIG. 2 is a block diagram illustrating the mobile computing device ofFIG. 1, in accordance with embodiments of the invention;

FIG. 3 is a block diagram illustrating the personal computing device ofFIG. 1, in accordance with embodiments of the invention;

FIG. 4 is a block diagram illustrating the financial institutionsystem(s) of FIG. 1, in accordance with embodiments of the invention;

FIG. 5 is a block diagram illustrating the block chain network systemsof FIG. 1, in accordance with embodiments of the invention;

FIG. 6 is a flowchart illustrating a method for using a smart contractblock chain for a transaction record sharing system in accordance withembodiments of the invention;

FIG. 7 is a flowchart illustrating a method for using a smart contractblock chain for implementing a transaction record sharing system, inaccordance with embodiments of the invention;

FIG. 8 is a flowchart illustrating a method of verifying a request, inaccordance with embodiments of the invention.

FIG. 9 is a flowchart illustrating another method of verifying arequest, in accordance with embodiments of the invention.

FIG. 10 is a flowchart illustrating still another method of verifying arequest, in accordance with embodiments of the invention.

FIG. 11 is a flowchart illustrating a method of validating a transactionrecord, in accordance with embodiments of the invention.

FIG. 12 is a flowchart illustrating another method of validating atransaction record, in accordance with embodiments of the invention.

FIG. 13 is a flowchart illustrating still another method of validating atransaction record, in accordance with embodiments of the invention.

DETAILED DESCRIPTION OF EMBODIMENTS OF THE INVENTION

Embodiments of the present invention will now be described more fullyhereinafter with reference to the accompanying drawings, in which some,but not all, embodiments of the invention are shown. Indeed, theinvention may be embodied in many different forms and should not beconstrued as limited to the embodiments set forth herein; rather, theseembodiments are provided so that this disclosure will satisfy applicablelegal requirements. Where possible, any terms expressed in the singularform herein are meant to also include the plural form and vice versa,unless explicitly stated otherwise. Also, as used herein, the term “a”and/or “an” shall mean “one or more,” even though the phrase “one ormore” is also used herein. Furthermore, when it is said herein thatsomething is “based on” something else, it may be based on one or moreother things as well. In other words, unless expressly indicatedotherwise, as used herein “based on” means “based at least in part on”or “based at least partially on.” Like numbers refer to like elementsthroughout.

In accordance with embodiments of the invention, the terms “financialinstitution” and “financial entity” include any organization thatprocesses financial transactions including, but not limited to, banks,credit unions, savings and loan associations, investment companies,stock brokerages, asset management firms, insurance companies and thelike.

Embodiments of the present invention provide a system and method forusing a block chain configuration to allow financial institutions toexchange non-monetary transaction information with one another without acentral source. The block chain can place transaction information onto ablock chain “closed-loop” such that member financial institutions of theclosed-loop block chain may access the transactional information ofother members of the closed-loop block chain. Non-monetary transactioninformation or records means historical transaction information such asaccount balances, account activity, purchase activity, payment activityand the like and is distinguished from the underlying monetarytransactions such as settling of accounts, payments, debits, credits,fund transfers and the like. The block chain is used to share historicaltransaction information such as a user's transaction record rather thanto effectuate the actual monetary transaction. In some cases, thefinancial institution and/or third parties can validate informationusing an authentication key or signature. The authentication key orsignature is recognized by other member institutions and certifies theauthenticity of the information. The authentication key or signature maybe unique to the member institution.

FIG. 1 provides a block diagram illustrating a closed loop sharedinformation system and environment 100, in accordance with an embodimentof the invention. As illustrated in FIG. 1, the environment 100 includesa user 110 where the user represents a customer having a relationshipwith at least one but typically more than one financial institution. Auser of the system may be a person, but may also be a business (e.g., amerchant) or any other entity. In a typical environment thousands ofusers may access the system of the invention.

The environment 100 also may include a computing device 120 for use bythe user 110. The computing device 120 may be any device that employs aprocessor and memory and can perform computing functions, such as apersonal computing device 300 or a mobile device 200, that may beconnected to or access a network 150. The personal computing device 300may comprise a personal computer such as a desk top computer, lap topcomputer or any type of personal computing device that may be connectedto a network by landline or wireless access such as wifi. As usedherein, the mobile device 200 may comprise any mobile communicationdevice, such as a cellular telecommunications device (i.e., a cell phoneor mobile phone), personal digital assistant (PDA), a mobile Internetaccessing device, or other mobile device. A mobile device may connect tothe network by a cellular telecommunications network or by wifi or otheraccess technology. In some embodiments where, for example, the user isan institution the computing device 120 may comprise servers, accessterminals, or the like.

The computing device 120 is configured to communicate over a network 150with a financial institution system(s) 610 a of at least one financialinstitution 400 a and, in some cases, with one or more other financialinstitution systems 610 b-610 d of additional financial institutions 400b-d that are part of the block chain, as represented by the block chaindistributed network systems 500. The mobile device 200, the personalcomputing device 300, the financial institutions system(s) 610 a-610 d,the block chain distributed network systems 500, are each described ingreater detail below with reference to FIGS. 2-5. The network 150 mayinclude a local area network (LAN), a wide area network (WAN), and/or aglobal area network (GAN). The network 150 may provide for wireline,wireless, or a combination of wireline and wireless communicationbetween devices in the network. In one embodiment, the network 150includes the Internet. In one embodiment, the network 150 includes awireless telephone network 152. The environment may also include otherfinancial institutions/systems 170 that are not part of the block chain500 but that may be accessed over the network 150 by the user 110 or bythe financial institutions 400 a-400 d.

In general, the computing device 120 is configured to connect with thenetwork 150 to log the user 110 into the financial institution system(s)610 a-610 d of one or more of the financial institutions 400 a-400 d. Auser 110 in order to access the user's account(s) typically uses anonline banking application and/or mobile banking application on one ofthe financial institution system(s) 610 a-610 d and must authenticatewith a host financial institution system(s) and/or another system. Forexample, logging into the financial institution system(s) 610 a-610 d ofone of the financial institutions 400 a-400 d generally requires thatthe user 110 authenticate his/her/its identity using a user name, apasscode, a cookie, a biometric identifier, a private key, a token,and/or another authentication mechanism that is provided by the user 110to the financial institution system(s) 610 a-610 d via the computingdevice 120.

The financial institution system(s) 610 a-610 d are in networkcommunication with the block chain system 500. The financial institutionsystem(s) 610 a-610 d in the block chain 500 may also communicate withone another over the network 150 outside of the block chain 500. In oneembodiment, the invention may provide an application download serversuch that software applications that support the financial institutionsystem(s) 610 a-610 d can be downloaded to the computing device 120. Insome embodiments of the invention, the application download server isconfigured to be controlled and managed by one or more third-party dataproviders (not shown in FIG. 1) over the network 150. In otherembodiments, the application download server is configured to becontrolled and managed over the network 150 by the same entity orentities that maintains the financial institution system(s) 610 a-610 d.

In some embodiments of the invention, the block chain system 500 isconfigured to be controlled and managed by one or more third-party dataproviders (not shown) or other entities over the network 150. In otherembodiments, the block chain system 500 is configured to be controlledand managed over the network 150 by the same entity or entities thatmaintain the financial institution system(s) 610 a-610 d.

FIG. 2 provides a block diagram illustrating a user's mobile device 200of FIG. 1 in more detail, in accordance with embodiments of theinvention. In one embodiment of the invention, the mobile device 200 isa mobile telephone. However, it should be understood that a mobiletelephone and the embodiment of the mobile device 200 shown in FIG. 2are merely illustrative of one type of mobile device 200 that maybenefit from, employ, or otherwise be involved with embodiments of thepresent invention and, therefore, should not be taken to limit the scopeof embodiments of the present invention. Other types of mobile devices200 may include portable digital assistants (PDAs), pagers, mobiletelevisions, gaming devices, laptop computers, cameras, video recorders,audio/video player, radio, GPS devices, or any combination of theaforementioned.

Some embodiments of the mobile device 200 include a processor 210communicably coupled to such devices as a memory 220, user outputdevices 236, user input devices 240, a network interface 260, a powersource 215, a clock or other timer 250, a camera 280, and a positioningsystem device 275. The processor 210, and other processors describedherein, generally include circuitry for implementing communicationand/or logic functions of the mobile device 200. For example, theprocessor 210 may include a digital signal processor device, amicroprocessor device, and various analog to digital converters, digitalto analog converters, and/or other support circuits. Control and signalprocessing functions of the mobile device 200 are allocated betweenthese devices according to their respective capabilities. The processor210 thus may also include the functionality to encode and interleavemessages and data prior to modulation and transmission. The processor210 can additionally include an internal data modem. Further, theprocessor 210 may include functionality to operate one or more softwareprograms, which may be stored in the memory 220. For example, theprocessor 210 may be capable of operating a connectivity program, suchas a web browser application 222. The web browser application 222 maythen allow the mobile device 200 to transmit and receive web content,such as, for example, location-based content and/or other web pagecontent, according to a Wireless Application Protocol (WAP), HypertextTransfer Protocol (HTTP), and/or the like.

The processor 210 is configured to use the network interface 260 tocommunicate with one or more other devices on the network 150. In thisregard, the network interface 260 includes an antenna 276 operativelycoupled to a transmitter 274 and a receiver 272 (together a“transceiver”). The processor 210 is configured to provide signals toand receive signals from the transmitter 274 and receiver 272,respectively. The signals may include signaling information inaccordance with the air interface standard of the applicable cellularsystem of the wireless telephone network 152. In this regard, the mobiledevice 200 may be configured to operate with one or more air interfacestandards, communication protocols, modulation types, and access types.By way of illustration, the mobile device 200 may be configured tooperate in accordance with any of a number of first, second, third,and/or fourth-generation communication protocols and/or the like. Forexample, the mobile device 200 may be configured to operate inaccordance with second-generation (2G) wireless communication protocolsIS-136 (time division multiple access (TDMA)), GSM (global system formobile communication), and/or IS-95 (code division multiple access(CDMA)), or with third-generation (3G) wireless communication protocols,such as Consolidated Mobile Telecommunications System (UMTS), CDMA2000,wideband CDMA (WCDMA) and/or time division-synchronous CDMA (TD-SCDMA),with fourth-generation (4G) wireless communication protocols, with LTEprotocols, with 3GPP protocols and/or the like. The mobile device 200may also be configured to operate in accordance with non-cellularcommunication mechanisms, such as via a wireless local area network(WLAN) or other communication/data networks.

As described above, the mobile device 200 has a user interface that maybe made up of user output devices 236 and/or user input devices 240. Theuser output devices 236 include a display 230 (e.g., a liquid crystaldisplay or the like) and a speaker 232 or other audio device, which areoperatively coupled to the processor 210. The user input devices 240,which allow the mobile device 200 to transmit data, may include any of anumber of devices allowing the mobile device 200 to transmit data, suchas a keypad, keyboard, touch-screen, touchpad, microphone, mouse,joystick, other pointer device, button, soft key, and/or other inputdevice(s). The user interface may also include a camera 280 and apositioning system device 275.

The mobile device 200 further includes a power source 215, such as abattery, for powering various circuits and other devices that are usedto operate the mobile device 200. Embodiments of the mobile device 200may also include a clock or other timer 250 configured to determine and,in some cases, communicate actual or relative time to the processor 210or one or more other devices.

The mobile device 200 also includes a memory 220 operatively coupled tothe processor 210. As used herein, memory includes any computer readablemedium (as defined herein below) configured to store data, code, orother information. The memory 220 may include volatile memory, such asvolatile Random Access Memory (RAM) including a cache area for thetemporary storage of data. The memory 220 may also include non-volatilememory, which can be embedded and/or may be removable. The non-volatilememory can additionally or alternatively include an electricallyerasable programmable read-only memory (EEPROM), flash memory or thelike.

The memory 220 can store any of a number of applications which comprisecomputer-executable instructions/code executed by the processor 210 toimplement the functions of the mobile device 200 and/or one or more ofthe process/method steps described herein. For example, the memory 220may include such applications as a conventional web browser application222 and/or a shared transactional data application 221. The sharedtransactional data application 221 may be used to allow communicationwith the host institution to implement the system of the invention andaccess the information on the block chain 500. In other embodiments theuser may access the information on the block chain 500 using a webbrowser application 222. The use of the shared transactional dataapplication 221 may facilitate access to the system of the invention byproviding log-in systems including user authentication systems, accountinformation or the like.

These applications also typically provide a graphical user interface(GUI) on the display 230 that allows the user 110 to communicate withthe mobile device 200, the financial institution system(s) 610 a-610 d,and/or other devices or systems. The memory 220 can also store any of anumber of pieces of information, and data, used by the mobile device 200and the applications and devices that make up the mobile device 200 orare in communication with the mobile device 200 to implement thefunctions of the mobile device 200 and/or the other systems describedherein. For example, the memory 220 may include such data as userauthentication information, etc.

Referring now to FIG. 3, the personal computing device 300 also includesvarious features, such as a network communication interface 310, aprocessing device 320, a user interface 330, and a memory device 350.The network communication interface 310 includes a device that allowsthe personal computing device 300 to communicate over the network 150(shown in FIG. 1). In one embodiment of the invention, a networkbrowsing application 355 provides for a user to establish networkcommunication with a financial institution system(s) 400 a-400 d (shownin FIG. 1).

As used herein, a “processing device,” such as the processing device320, generally refers to a device or combination of devices havingcircuitry used for implementing the communication and/or logic functionsof a particular system. For example, a processing device 320 may includea digital signal processor device, a microprocessor device, and variousanalog-to-digital converters, digital-to-analog converters, and othersupport circuits and/or combinations of the foregoing. Control andsignal processing functions of the system are allocated between theseprocessing devices according to their respective capabilities. Theprocessing device 320 may further include functionality to operate oneor more software programs based on computer-executable program codethereof, which may be stored in a memory. As the phrase is used herein,a processing device 320 may be “configured to” perform a certainfunction in a variety of ways, including, for example, by having one ormore general-purpose circuits perform the function by executingparticular computer-executable program code embodied incomputer-readable medium, and/or by having one or moreapplication-specific circuits perform the function.

As used herein, a “user interface” 330 generally includes a plurality ofinterface devices and/or software that allow a customer to inputcommands and data to direct the processing device to executeinstructions. For example, the user interface 330 presented in FIG. 3may include a graphical user interface (GUI) or an interface to inputcomputer-executable instructions that direct the processing device 320to carry out specific functions. The user interface 330 employs certaininput and output devices. These input and output devices may include adisplay, mouse, keyboard, button, touchpad, touch screen, microphone,speaker, LED, light, joystick, switch, buzzer, bell, and/or other userinput/output device for communicating with one or more users.

As used herein, a “memory device” 350 generally refers to a device orcombination of devices that store one or more forms of computer-readablemedia for storing data and/or computer-executable programcode/instructions. Computer-readable media is defined in greater detailbelow. For example, in one embodiment, the memory device 350 includesany computer memory that provides an actual or virtual space totemporarily or permanently store data and/or commands provided to theprocessing device 320 when it carries out its functions describedherein. The memory device 350 may include such applications as aconventional web browser application 355 and/or a shared transactionaldata application 356. The shared transactional data application 356 maybe used to allow communication with the host institution to provideaccess to information on block chain 500 by providing log-in systemsincluding user authentication systems, account information or the likeas previously described.

FIG. 4 provides a block diagram illustrating one of the financialinstitution system(s) 610 a-610 d, in greater detail, in accordance withembodiments of the invention. As illustrated in FIG. 4, in oneembodiment of the invention, the financial institution system 400includes one or more processing devices 420 operatively coupled to anetwork communication interface 410 and a memory device 450. In certainembodiments, the financial institution system 400 is operated by a firstentity, such as a financial institution.

It should be understood that the memory device 450 may include one ormore databases or other data structures/repositories. The memory device450 also includes computer-executable program code that instructs theprocessing device 420 to operate the network communication interface 410to perform certain communication functions of the financial institutionsystem 400 described herein. For example, in one embodiment of thefinancial institution system 400, the memory device 450 includes, but isnot limited to, a network server application 470, an authenticationapplication 460, a customer account data repository 480 which includescustomer authentication data 480 and customer account information 484, amobile banking application 490 which includes a shared transaction dataapplication 492, a mobile web server application 493, and othercomputer-executable instructions or other data. The computer-executableprogram code of the network server application 470, the authenticationapplication 460, or the mobile banking application 490 may instruct theprocessing device 420 to perform certain logic, data-processing, anddata-storing functions of the financial institution system(s) 400described herein, as well as communication functions of the financialinstitution system(s) 400. The shared transaction data application 492communicates with the user computing devices 120 and more specificallywith shared transaction data applications 221, 356 to facilitatecommunication between the user and the host financial institution toenable access to the information on the block chain.

In one embodiment, the customer account data repository 480 includescustomer authentication data 482 and customer account information 484.The network server application 470, the authentication application 460,and the mobile banking application 490 are configured to invoke or usethe customer account information 484, the customer authentication data482, and the shared transaction data interface 492 when authenticating auser to the financial institution system(s) 400. The financialinstitution system also comprises a block chain network system 500 forinterfacing with the block chain network system.

As used herein, a “communication interface” generally includes a modem,server, transceiver, and/or other device for communicating with otherdevices on a network, and/or a user interface for communicating with oneor more customers. Referring again to FIG. 4, the network communicationinterface 410 is a communication interface having one or morecommunication devices configured to communicate with one or more otherdevices on the network 150, such as the mobile device 200, the personalcomputing device 300, and the block chain systems 500. The processingdevice 420 is configured to use the network communication interface 410to transmit and/or receive data and/or commands to and/or from the otherdevices connected to the network 150.

FIG. 5 provides a block diagram illustrating block chain network system500, in accordance with embodiments of the invention. Embodiments of theblock chain may include multiple systems, servers, computers or the likemaintained by one or many entities. FIG. 5 merely illustrates one ofthose systems that, typically, interacts with many other similar systemsto form the block chain. In one embodiment of the invention, the blockchain network system 500 forms part of the financial institutionsystem(s) 610 a-610 d and are operated by the financial institutions 400a-400 d. In some embodiments, the financial institution system(s) arepart of the block chain. Similarly, in some embodiments, the block chainnetwork systems 500 are part of the financial institution system(s). Asshown in the drawings the processing devices 520, memory devices 560 andnetwork communication interfaces 510 are shown as separate devices fromthe same devices in the financial institution system 400 of FIG. 4;however, the systems of the block chain network system 500 may share thesame structure or some of the same structure with and be implemented bythe financial institution system 400.

As illustrated in FIG. 5, one of the block chain network systems 500generally includes, but is not limited to, a network communicationinterface 510, a processing device 520, and a memory device 550. Theprocessing device 520 is operatively coupled to the networkcommunication interface 510 and the memory device 550. In one embodimentof the block chain network system 500, the memory device 550 stores, butis not limited to, a system interface 560 and a distributed ledger 570.In some embodiments, the distributed ledger 570 stores data including,but not limited to, member financial institution contract logic andrules. The contract logic and rules controls the operation of the blockchain according to the smart contract agreement of the member financialinstitutions. In one embodiment of the invention, both the programinterface 560 and the distributed ledger 570 may associate withapplications having computer-executable program code that instructs theprocessing device 520 to operate the network communication interface 510to perform certain communication functions involving the distributedledger 570 described herein. In one embodiment, the computer-executableprogram code of an application associated with the distributed ledger570 may also instruct the processing device 520 to perform certainlogic, data processing, and data storing functions of the applicationassociated with the distributed ledger 570 described herein.

The network communication interface 510 is a communication interfacehaving one or more communication devices configured to communicate withone or more other devices on the network 150. The processing device 520is configured to use the network communication interface 510 to receiveinformation from and/or provide information and commands to other blockchain network systems 500 via the network 150. In some embodiments, thefinancial institution system(s) 400 and the block chain network systems500 are operated by the same entity so that the financial institutioncontrols the various functions of both the block chain network system500 and the financial institution system(s) 400 such that control overthe information maintained by the financial institution remains with thefinancial institution.

As described above, the processing device 520 is configured to use thenetwork communication interface 510 to gather data, such as datacorresponding to transactions, blocks or other updates to thedistributed ledger 570 from various data sources such as other blockchain network systems 500. The processing device 520 stores the datathat it receives in its copy of the distributed ledger 570 stored in thememory device 550.

A block chain or blockchain is a distributed database that maintains alist of data records, the security of which is enhanced by thedistributed nature of the block chain. A block chain typically includesseveral nodes, which may be one or more systems, machines, computers,databases, data stores or the like operably connected with one another.In the present embodiments the nodes are the financial institutionsystems 610 a-610 d of the financial institutions 400 a-400 d of theblock chain system 500. In some cases, each of the nodes or multiplenodes are maintained by different entities. A block chain typicallyworks without a central repository or single administrator. Onewell-known application of a block chain is the public ledger oftransactions for cryptocurrencies such as used in bitcoin. The datarecords recorded in the block chain are enforced cryptoraphically andstored on the nodes of the block chain.

A block chain provides numerous advantages over traditional databases. Alarge number of nodes of a block chain may reach a consensus regardingthe validity of a transaction contained on the transaction ledger.Similarly, when multiple versions of a document or transaction exists onthe ledger, multiple nodes can converge on the most up-to-date versionof the transaction. In the case of a financial institution transactionrecords, any node within the block chain that creates a transaction candetermine within a level of certainty whether the transaction can takeplace and become final according to the terms of that financialinstitution. The final transaction is designated as an authorizedtransaction on the block chain.

The block chain typically has two primary types of records. The firsttype is the transaction type, which consists of the actual data storedin the block chain. The second type is the block type, which are recordsthat confirm when and in what sequence certain transactions becamerecorded as part of the block chain. Transactions are created byparticipants using the block chain in its normal course of business, forexample, when someone sends cryptocurrency to another person), andblocks are created by users known as “miners” who use specializedsoftware/equipment to create blocks. Users of the block chain createtransactions that are passed around to various nodes of the block chain.A “valid” transaction is one that can be validated based on a set ofrules that are defined by the particular system implementing the blockchain. For example, in the case of cryptocurrencies, a valid transactionis one that is digitally signed, spent from a valid digital wallet and,in some cases, meets other criteria.

As mentioned above and referring to FIG. 1, a block chain 500 istypically decentralized—meaning that a distributed ledger 570 ismaintained on multiple nodes 610 a-d of the block chain 500. One node inthe block chain may have a complete or partial copy of the entire ledgeror set of transactions and/or blocks on the block chain. Transactionsare initiated at a node of a block chain and communicated to the variousnodes of the block chain. Any of the nodes can validate a transaction,add the transaction to its copy of the block chain, and/or broadcast thetransaction, its validation (in the form of a block) and/or other datato other nodes. This other data may include time-stamping, such as isused in cryptocurrency block chains.

Various other specific-purpose implementations of block chains have beendeveloped. These include distributed domain name management,decentralized crowd-funding, synchronous/asynchronous communication,decentralized real-time ride sharing and even a general purposedeployment of decentralized applications.

For any given financial institution a number of users, and in a typicalcase a very large number of users, may complete a wide variety oftransactions with that financial institution that are made of recordwith that financial institution to create a historical transactionrecord. For example, a user may be a user of the financial institutionand that customer may engage in banking transactions such as an accountholder, loans, credit/debit card transactions, lines of credit or thelike. The customer may be a relatively small individual client or alarge institutional client. Moreover, the user of one financialinstitution may also be a user of multiple unrelated financialinstitutions such that the complete transaction record for the user isheld by a number of independent financial institutions where the usercan only obtain a the complete transaction record by accessing thetransaction record of every financial institution with which that userhas a relationship. In the system of the invention all member financialinstitutions may be part of the block chain such that the completetransaction record of a user of any of the member financial institutionsmay be made available to that user by the user accessing any one of thefinancial institutions.

Referring now to FIG. 6, a flowchart illustrating a process and systemfor using a block chain for validation of secure process transactionsaccording to embodiments of the invention is shown. The financialinstitution that the user initially accesses as the access point to theblock chain network is considered the “host institution” and the systemsof the host institution may be referred to as “host systems”. A “sourceinstitution” is a financial institution other than the host institutionthat has transaction records of a user and the systems of the sourceinstitution may be referred to as “source systems”. Financialinstitutions may function as both source institutions and hostinstitutions depending on whether the financial institution is theaccess point selected by the user. As shown, a user engages in atransaction with a first financial institution (first sourceinstitution) block 601. The first financial institution creates atransaction record which it may maintain in the financial institution'ssystem block 602. The user may perform multiple transactions with thefirst financial institution creating multiple transaction records. Thesame user may perform a transaction with a second financial institution(second source institution) block 603. The second financial institutioncreates a transaction record which it may maintain in the secondfinancial institution's system block 604. The user may perform multipletransactions with the second financial institution creating multipletransaction records. The user may perform transactions with anyadditional number of financial institutions (additional sourceinstitutions), block 605, and each of the additional financialinstitutions creates a transaction record which it may maintain in thatfinancial institution's system block 606. The user may perform multipletransactions with each of the financial institutions with which thatuser has a relationship such that multiple institutions may havemultiple transaction records with a single user. The transaction recordsare associated with the smart contract and may include input data, whichmay be encrypted by the financial system.

Each financial transaction record is validated based on the logic/rulesof the smart contract entered into and agreed upon by the memberinstitutions blocks 607, 608, and 609. Smart contracts are computerprocesses that facilitate, verify and/or enforce negotiation and/orperformance of a contract between parties. Smart contracts typicallyinclude logic that emulates contractual clauses that are partially orfully self-executing and/or self-enforcing. Smart contractinfrastructure can be implemented by replicated asset registries such asthe distributed ledgers 570. For example, each node in the block chaindistributed network may implement sets of predetermined rules thatgovern transactions on the network such as posting a verifiedtransaction to the block chain. Each node may also check the work ofother nodes and in some cases, as noted above, function verifiers.

The smart contract includes logic stored on one or more of the systemsof the block chain, which analyzes the inputted action in light of thelogical terms of the smart contract. In some instances, a financialinstitution posts or records transaction records on the block chain whenthe smart contract conditions are met. The transactions recorded on theblock chain provide visibility and accountability into the operation ofthe smart contract.

The financial institution accesses the distributed ledger that isupdated based on communications from a block chain distributed networkblock 607 a, 607 b, 607 c. Next, as represented by blocks 607, 608, 609,using smart contract logic, the system determines whether the indicatedtransactions meets one or more conditions of the smart contract. Thismay be considered to validate the transaction record. In response todetermining the transaction records meet the condition, the transactionrecord is validated. The system communicates the validated transactionrecord to the block chain distributed network by updating thedistributed ledger and making the updated ledger available to the blockchain network blocks 610, 611, and 612. The validated transaction mayinclude an authentication key or signature that is recognized by memberinstitutions as a validated transaction. The validated transactions onthe distributed ledgers 520 may be accessed by each financialinstitution that is a member of the block chain 500. The memberinstitutions of the block chain 500 may have a complete or partial copyof the entire ledger or set of transactions and/or blocks on the blockchain. Transactions that are initiated at one financial institution ofthe block chain are accessible to the other member institutions of theblock chain, block 613, such that the transaction data may be sharedbetween the financial institutions that are members of the block chain.In some embodiments, any of the financial institutions can add anyvalidated transaction to its copy of the block chain, and/or broadcastthe validated transaction, in the form of a validated block to othermember institutions of the block chain. Other data may be included inthe block, such as time-stamping, such that each member institution mayindependently validate the transaction record in the block.

In one embodiment, as shown in FIG. 11, the validation step, block 614,may be performed by the source institution prior to adding thetransaction record to the block chain based on the logic and rules fromthe source institution's distributed ledger, block 1101. The sourceinstitution posts the validated transaction record to the block chainwith an authentication key or signature that is recognized by othermembers of the block chain block 1102. The validation may also beperformed by one or more of the member financial institutions other thanthe source institution. For example, in a block chain certaininstitutions may be designated as validation institutions that inaddition to being potential source and/or host institutions operate asvalidation institutions for all members of the block chain. Referring toFIG. 12, in such an arrangement the transaction record of the sourceinstitution (i.e. the financial institution through which thetransaction was originally made with the user) is first sent by thesource institution to the validation institution block 1201 and therequest is validated using information provided with the request to thevalidation institution based on the logic and rules from the blockchain's distributed ledger, block 1202. The validated transaction recordmay then be posted to the block chain by the validation institution witha signature or authentication key indicating that the transaction isvalidated block 1203. In other embodiments, as shown in FIG. 13, thetransaction record is first sent by the source institution to thevalidation institution, block 1301, and the request is validated basedon information provided with the transaction record at the validationinstitution block 1302. The validation institution may transmit thesignature or authentication key to the source institution, block 1303,and the source institution may post the validated transaction record tothe block chain block 1304. In some embodiments the validationinstitutions may comprise an entity that is not a member financialinstitution and that does not function as a host or source institution.In such an embodiment the validation institution does not access,maintain or control any user transaction records and only functions tovalidate the transaction record. Once the transaction record isvalidated the validation institutions may provide an authentication keyor signature to the source institution that is used by the sourceinstitution to post the validated transaction record to the block chain.

In various embodiments, the block chain may be configured with a set ofrules to dictate when and how transactions are validated and otherdetails about how the network communicates data and the like. In someembodiments, the rules dictate that a source institution must validateall transaction records. In some embodiments, the rules dictate thatsome or all transaction records may be approved by one or morevalidation institutions. A validation institution may be one or more ofthe financial institutions on the block chain that validate transactionsfor other financial institutions on the block chain. In some such cases,the rules dictate that the transaction record created by a sourceinstitution, also includes additional information that is useful indetermining whether requests associated with the transaction recordshould be approved. In other embodiments, the validation institutionmust reach out to the host institution in certain situations as dictatedby the rules. In some embodiments, more than one institution mustvalidate a transaction before it may be posted to the block chain as avalidated transaction record.

The user may then access the transaction records of all financialinstitutions that are members of the block chain by logging in at asingle access point. Typically, the access point will be through acomputing device 120 such as mobile device 200 or personal computingdevice 300 as previously described where the user utilizes a userinterface application of one of the user's financial institutions.Referring to FIG. 7, a flowchart illustrating a system for externalsecure access to process data network according to embodiments of theinvention is shown. The user is required to authenticate itself using alogin process requiring a password or other identity verification at thehost institution, block 701, as previously described. Once the user isverified the user may request access to the user's transaction records.In the system of the invention the user may access not only thetransaction records of the host financial institution but also therecords of any source institution that is a member of the block chain.

The user makes a request for a transaction record that is received bythe host institution block 702. The request is typically made throughthe host institutions on-line access point using an on-line applicationof the host institution. While the term “request” is used herein toindicate the user's initiation of the generation of the consolidatedrecord, in some embodiments the request may be the user's initial log-inat the host institution where selected transaction records areautomatically generated by the host institution. In this manner therequest may be considered the initiation of the system by the hostinstitution rather than a user generated request. The term “request” asused herein means a user generated request and/or a host institutiongenerated request. The host institution determines if the request is fora consolidated transaction record or only requires information from thehost institution block 703. The “consolidated transaction record”contemplates transaction records created at any host institution asrequested by and presented to the user at the computing device 120 thatrequire transaction records from one or more source institutions. The“consolidated transaction record” may be all of the user's transactionrecords at all financial institutions that are members of the blockchain or a subset of the user's transaction records and the term“consolidated transaction record” means the transaction record that isselected from the universe of data available to members of the blockchain as requested by the user. To the extent the request requires onlyinformation from the host institution the host institution responds fromits own internal records block 704. To the extent the user request isfor a consolidated transaction record that requires information frommember institutions in addition to or other than the host institution,the request is verified according to the logic and rules of the smartcontract block 705. A verified request is communicated to the othersource institutions requesting that the other institutions makeavailable to the host institution the requested information block 706.The verified request is made based on rules established by all membersof the block chain. The request may include a verification such as asignature or authentication key of the host institution that isrecognized by the other member institutions and an identification of theuser and may include the user's verification information as received bythe host institution. The request may include user transactioninformation such as account numbers, credit/debit card numbers or thelike. The next step, as represented by block 707, is for the sourceinstitutions to verify the request including, for example, verifying theidentity of the host institution and the user based on the verificationinformation provided with the request such as the signature orauthentication key of the host institution. If the request cannot beverified, access to the source institution's records is denied block710. The source institution may provide the host institution with adenied message. If the request is verified the source institution(s)allow access of the host institution to the requested information block708. The information provided by the source institution to the hostinstitution may be validated in the block chain, as previouslydescribed, such that the host institution can verify that theinformation is being provided by the true source institution. Onceaccess is allowed, the host institution accesses the transaction recordof the source institution block 709. The process is repeated for eachsource institution that has relevant transaction records for theverified request. The host institution assembles and communicates theverified information to the user computing device 120 in the form of aconsolidated transaction record block 710. After the host institutionaccesses the requested transaction data from each of the relevant sourceinstitutions, the transaction data is organized and presented to theuser personal computing device as a consolidated transaction record.Thus, the use of the block chain allows any member institution toprovide data from any other member institution without the need for anaggregator entity that is separate from the member financialinstitutions.

For example, if a user has a checking account with a first institution,a credit card with a second institution and a line of credit with athird institution, the transaction record of all of the user'stransactions with all of the user's financial institutions may beprovided as a consolidated transaction record for any institution thatis part of the block chain at a single access node—the host institution.The user may request any or all of the transaction records from anymember institution such that the consolidated transaction recordprovided to the user may be the user's complete financial record fromall member institutions or it may comprise only a subset of that data asrequested by the user. For example a user may make a request from thehost institution for the past month of purchases on a credit card heldby a source institution that is not the host institution. The hostinstitution would access the information from the source institution andthe source institution would allow access to the host institution. Thehost institution would then provide to the user the requestedinformation as obtained from the source institution.

The use of the block chain contains the transaction information of auser to member institutions of the block chain. The member institutionsmay establish consistent rules between the institutions for howparticular transactions may be classified and reported. As a result, theconsolidated transaction record may be used to organize the user'stransaction history such that information provided by otherwiseindependent institutions may follow a common logic.

As previously explained with respect to block 705 the request isverified. In one embodiment, as shown in FIG. 8, the verification stepmay be performed by the host institution prior to transmitting therequest based on the logic and rules from the host institution'sdistributed ledger, block 801. The verified request is then sent by thehost institution.

The verification may also be performed by one or more of the memberfinancial institutions other than the host institution. For example, ina block chain certain institutions may be designated as verificationinstitutions that in addition to being potential source institutionsoperate as verification institutions for all members of the block chain.

Referring to FIG. 9, in such an arrangement the request is first sent bythe host institution to the verification institution, block 901, and therequest is verified using information provided with the request at theverification institution based on the logic and rules from theverification institution's distributed ledger, block 902. The verifiedrequest may then be forwarded to all source institutions by theverification institution with a signature or authentication keyindicating that the request is verified and that all relevant sourceinstitutions should make the requested information available to the hostinstitution block 903. In other embodiments, the request is first sentby the host institution to the verification institution, block 1001, andthe request is verified based on information provided with the requestat the verification institution, block 1002, as described with respectto FIG. 9. The verification institution may transmit the authenticationkey or signature to the host institution block 1003 and the hostinstitution may transmit the verified request to all source institutionsblock 1004. In some embodiments the verification institutions maycomprise an entity that is not a member financial institution and thatdoes not function as a source institution. In such an embodiment theverification institutions does not maintain or control any usertransaction information and only functions to verify the request. Oncethe request is verified the verification institutions may provide theauthentication key or signature to the host institution that is used bythe host institution with the request to verify the request to anyrelevant source institutions.

In various embodiments, the block chain may be configured with a set ofrules to dictate when and how requests are approved by the host, sourceand verification institutions and other details about how the networkcommunicates data and the like. In some embodiments, the rules dictatethat a host institution (i.e., a node that places the request on theblock chain) must approve all requests for transaction records. In someembodiments, the rules dictate that some or all requests may be approvedby one or more verification institutions. A verification institution maybe one or more of the financial institutions on the block chain thatverify requests and source information for other financial institutionson the block chain. In some such cases, the rules dictate that thetransaction record created by a source institution, also includesadditional information that is useful in determining whether requestsassociated with the transaction record should be approved. In otherembodiments, the verification institution must reach out to the hostinstitution in certain situations as dictated by the rules.

Once the block chain is established the block chain allows financialinstitutions to share data even where the financial institution systemsare not compatible for direct communication. Such an ability may beparticularly useful in global financial systems where financialinstitutions in different geographic areas, such as different countries,have a need to communicate data with one another but have systems thatare incompatible for direct communication although the system of theinvention may be used in any circumstance where the sharing ofinformation may be useful. Moreover, while the system of the inventionhas been described with particular reference to the sharing of data forpurposes of aggregating user information to create a consolidatedtransaction record, the sharing of data may be for other purposes thanto create a consolidated transaction record. For example, the data maybe shared to prevent fraud, for anti-terrorism purposes, for riskanalysis or the like.

As will be appreciated by one of skill in the art, the present inventionmay be embodied as a method (including, for example, acomputer-implemented process, a business process, and/or any otherprocess), apparatus (including, for example, a system, machine, device,computer program product, and/or the like), or a combination of theforegoing. Accordingly, embodiments of the present invention may takethe form of an entirely hardware embodiment, an entirely softwareembodiment (including firmware, resident software, micro-code, etc.), oran embodiment combining software and hardware aspects that may generallybe referred to herein as a “system.” Furthermore, embodiments of thepresent invention may take the form of a computer program product on acomputer-readable medium having computer-executable program codeembodied in the medium.

Any suitable transitory or non-transitory computer readable medium maybe utilized. The computer readable medium may be, for example but notlimited to, an electronic, magnetic, optical, electromagnetic, infrared,or semiconductor system, apparatus, or device. More specific examples ofthe computer readable medium include, but are not limited to, thefollowing: an electrical connection having one or more wires; a tangiblestorage medium such as a portable computer diskette, a hard disk, arandom access memory (RAM), a read-only memory (ROM), an erasableprogrammable read-only memory (EPROM or Flash memory), a compact discread-only memory (CD-ROM), or other optical or magnetic storage device.

In the context of this document, a computer readable medium may be anymedium that can contain, store, communicate, or transport the programfor use by or in connection with the instruction execution system,apparatus, or device. The computer usable program code may betransmitted using any appropriate medium, including but not limited tothe Internet, wireline, optical fiber cable, radio frequency (RF)signals, or other mediums.

Computer-executable program code for carrying out operations ofembodiments of the present invention may be written in an objectoriented, scripted or unscripted programming language such as Java,Perl, Smalltalk, C++, or the like. However, the computer program codefor carrying out operations of embodiments of the present invention mayalso be written in conventional procedural programming languages, suchas the “C” programming language or similar programming languages.

Embodiments of the present invention are described above with referenceto flowchart illustrations and/or block diagrams of methods, apparatus(systems), and computer program products. It will be understood thateach block of the flowchart illustrations and/or block diagrams, and/orcombinations of blocks in the flowchart illustrations and/or blockdiagrams, can be implemented by computer-executable program codeportions. These computer-executable program code portions may beprovided to a processor of a general purpose computer, special purposecomputer, or other programmable data processing apparatus to produce aparticular machine, such that the code portions, which execute via theprocessor of the computer or other programmable data processingapparatus, create mechanisms for implementing the functions/actsspecified in the flowchart and/or block diagram block or blocks.

These computer-executable program code portions may also be stored in acomputer-readable memory that can direct a computer or otherprogrammable data processing apparatus to function in a particularmanner, such that the code portions stored in the computer readablememory produce an article of manufacture including instructionmechanisms which implement the function/act specified in the flowchartand/or block diagram block(s).

The computer-executable program code may also be loaded onto a computeror other programmable data processing apparatus to cause a series ofoperational steps to be performed on the computer or other programmableapparatus to produce a computer-implemented process such that the codeportions which execute on the computer or other programmable apparatusprovide steps for implementing the functions/acts specified in theflowchart and/or block diagram block(s).

As the phrase is used herein, a processor may be “configured to” performa certain function in a variety of ways, including, for example, byhaving one or more general-purpose circuits perform the function byexecuting particular computer-executable program code embodied incomputer-readable medium, and/or by having one or moreapplication-specific circuits perform the function.

Embodiments of the present invention are described above with referenceto flowcharts and/or block diagrams. It will be understood that steps ofthe processes described herein may be performed in orders different thanthose illustrated in the flowcharts. In other words, the processesrepresented by the blocks of a flowchart may, in some embodiments, be inperformed in an order other that the order illustrated, may be combinedor divided, or may be performed simultaneously. It will also beunderstood that the blocks of the block diagrams illustrated, in someembodiments, merely conceptual delineations between systems and one ormore of the systems illustrated by a block in the block diagrams may becombined or share hardware and/or software with another one or more ofthe systems illustrated by a block in the block diagrams. Likewise, adevice, system, apparatus, and/or the like may be made up of one or moredevices, systems, apparatuses, and/or the like. For example, where aprocessor is illustrated or described herein, the processor may be madeup of a plurality of microprocessors or other processing devices whichmay or may not be coupled to one another. Likewise, where a memory isillustrated or described herein, the memory may be made up of aplurality of memory devices which may or may not be coupled to oneanother.

While certain exemplary embodiments have been described and shown in theaccompanying drawings, it is to be understood that such embodiments aremerely illustrative of, and not restrictive on, the broad invention, andthat this invention not be limited to the specific constructions andarrangements shown and described, since various other changes,combinations, omissions, modifications and substitutions, in addition tothose set forth in the above paragraphs, are possible. Those skilled inthe art will appreciate that various adaptations and modifications ofthe just described embodiments can be configured without departing fromthe scope and spirit of the invention. Therefore, it is to be understoodthat, within the scope of the appended claims, the invention may bepracticed other than as specifically described herein.

INCORPORATION BY REFERENCE

To supplement the present disclosure, this application furtherincorporates entirely by reference the following commonly assignedpatent applications:

U.S. Patent Docket Number Application Ser. No. Title Filed On6823US1.014033.2555 14/942,326 TRANSPARENT SELF- Nov. 16, 2015 MANAGINGREWARDS PROGRAM USING BLOCKCHAIN AND SMART CONTRACTS 6908US1.014033.265215/041,555 BLOCK CHAIN ALIAS FOR Feb. 11, 2016 PERSON-TO-PERSON PAYMENTS6908USP1.014033.2556 62/253,935 BLOCK CHAIN ALIAS Nov. 11, 2015PERSON-TO-PERSON PAYMENT 6985US1.014033.2605 15/041,566 BLOCK CHAINALIAS Feb. 11, 2016 PERSON-TO-PERSON PAYMENTS 6989US1.014033.2608 SYSTEMFOR EXTERNAL Concurrently SECURE ACCESS TO Herewith PROCESS DATA NETWORK6990US1.014033.2609 SYSTEM FOR PROVIDING Concurrently LEVELS OF SECURITYHerewith ACCESS TO A PROCESS DATA NETWORK 6991USP1.014033.261062/293,585 SYSTEM FOR SECURE Feb. 10, 2016 ROUTING OF DATA TO VARIOUSNETWORKS FROM A PROCESS DATA NETWORK 6992USP1.014033.2611 62/293,620SYSTEM FOR CENTRALIZED Feb. 10, 2016 CONTROL OF SECURE ACCESS TO PROCESSDATA NETWORK 6993US1.014033.2612 SYSTEM FOR CONTROL OF ConcurrentlySECURE ACCESS AND Herewith COMMUNICATION WITH DIFFERENT PROCESS DATANETWORKS WITH SEPARATE SECURITY FEATURES 6994US1.014033.2613 SYSTEM FORCONTROL Concurrently OF DEVICE IDENTITY Herewith AND USAGE IN A PROCESSDATA NETWORK 6996US1.014033.2615 SYSTEM FOR ESTABLISHING ConcurrentlySECURE ACCESS FOR USERS Herewith IN A PROCESS DATA NETWORK6997US1.014033.2616 SYSTEM FOR ALLOWING Concurrently EXTERNAL VALIDATIONHerewith OF DATA IN A PROCESS DATA NETWORK 6998US1.014033.2719 SYSTEMFOR CONVERSION Concurrently OF AN INSTRUMENT FROM Herewith A NON-SECUREDINSTRUMENT TO A SECURED INSTRUMENT IN A PROCESS DATA NETWORK6998USP1.014033.2617 62/287,293 SYSTEM FOR CONVERSION Jan. 26, 2016 OFAN INSTRUMENT FROM A NON-SECURED INSTRUMENT TO A SECURED INSTRUMENT IN APROCESS DATA NETWORK 6999US1.014033.2720 SYSTEM FOR TRACKINGConcurrently AND VALIDATION OF Herewith MULTIPLE INSTANCES OF AN ENTITYIN A PROCESS DATA NETWORK 6999USP1.014033.2618 62/287,301 SYSTEM FORTRACKING Jan. 26, 2016 AND VALIDATION OF MULTIPLE INSTANCES OF AN ENTITYIN A PROCESS DATA NETWORK 7000US1.014033.2721 SYSTEM FOR TRACKINGConcurrently AND VALIDATION OF AN Herewith ENTITY IN A PROCESS DATANETWORK 7000USP1.014033.2619 62/287,298 SYSTEM FOR TRACKING Jan. 26,2016 AND VALIDATION OF AN ENTITY IN A PROCESS DATA NETWORK7001US1.014033.2620 SYSTEM FOR ROUTING OF Concurrently PROCESSAUTHORIZATIONS Herewith AND SETTLEMENT TO A USER IN A PROCESS DATANETWORK 7002US1.014033.2621 SYSTEM FOR ROUTING OF Concurrently PROCESSAUTHORIZATION AND Herewith SETTLEMENT TO A USER IN PROCESS DATA NETWORKBASED ON SPECIFIED PARAMETERS 7003US1.014033.2622 SYSTEM FOR GRANT OFConcurrently USER ACCESS AND DATA Herewith USAGE IN A PROCESS DATANETWORK 7033US1.014033.2638 SYSTEM FOR IMPLEMENTING Concurrently ADISTRIBUTED LEDGER Herewith ACROSS MULTIPLE NETWORK NODES7038US1.014033.2643 SYSTEM FOR EXTERNAL Concurrently VALIDATION OFHerewith PRIVATE-TO-PUBLIC TRANSITION PROTOCOLS 7039US1.014033.2644SYSTEM FOR EXTERNAL Concurrently VALIDATION OF Herewith DISTRIBUTEDRESOURCE STATUS 7040US1.014033.2645 SYSTEM FOR TRACKING ConcurrentlyTRANSFER OF RESOURCES Herewith IN A PROCESS DATA NETWORK7041US1.014033.2651 SYSTEM FOR MANAGING Concurrently SERIALIZABILITY OFHerewith RESOURCE TRANSFERS IN A PROCESS DATA NETWORK7042US1.014033.2640 SYSTEM TO ENABLE Concurrently CONTACTLESS ACCESSHerewith TO A TRANSACTION TERMINAL USING A PROCESS DATA NETWORK

1. A host system operatively connected with a block chain distributednetwork and for using the block chain distributed network forfacilitating the exchange of non-monetary transaction informationbetween different member institutions comprising a host system and asource system and with a user, the system comprising: a distributedmemory device storing logic and rules for the block chain; and aprocessing device operatively coupled to the memory device, wherein theprocessing device is configured to execute computer-readable programcode to: validate the transaction record of a user based on the logicand rules for the block chain; post validated transaction record todistributed memory of block chain; access the validated transactionrecord of member institutions of the block chain.
 2. The system of claim1, wherein the processing device is configured to executecomputer-readable program code further to: allow access to the validatedtransaction records of member institutions.
 3. The system of claim 1,wherein the processing device is configured to execute computer-readableprogram code further to: communicate validation of the transactionrecord to the block chain distributed network.
 4. The system of claim 2,wherein the processing device is configured to execute computer-readableprogram code further to: update the distributed memory device withinformation indicating validation of the transaction record.
 5. Thesystem of claim 1, wherein the validated transaction record includes anauthentication key.
 6. The system of claim 5, wherein the authenticationkey is unique to the source system.
 7. The system of claim 1, whereinthe logic rules are stored in the distributed memory device.
 8. A sourcesystem operatively connected with a block chain distributed network andfor using the block chain distributed network for facilitating theexchange of non-monetary transaction information between differentmember institutions comprising a host system and a source system andwith a user, the system comprising: a distributed memory device storinglogic rules for the block chain; and a processing device operativelycoupled to the memory device, wherein the processing device isconfigured to execute computer-readable program code to: validate thetransaction record of a user based on logic rules for the block chain;post validated transaction record to distributed memory of block chain;allow access to the validated transaction record of member institutionsof the block chain by a member institution of the block chain.
 9. Thesystem of claim 8, wherein the processing device is configured toexecute computer-readable program code further to: access the validatedtransaction records of member institutions.
 10. The system of claim 8,wherein the processing device is configured to execute computer-readableprogram code further to: communicate validation of the transactionrecord to the block chain distributed network.
 11. The system of claim8, wherein the processing device is configured to executecomputer-readable program code further to: update a distributed ledgerwith information indicating validation of the transaction record andprovide access to the distributed ledger to the block chain distributednetwork.
 12. A method for execution on a closed-loop system operativelyconnected with a block chain distributed network, the method for usingthe block chain distributed network for facilitating operation of atransaction record sharing system between different member institutionscomprising a host system and a source system, the method comprising:validating the transaction record of a user based on logic rules for theblock chain from a distributed memory device; posting validatedtransaction record to the distributed memory of the block chain;accessing the validated transaction record of member institutions of theblock chain; allowing access to the validated transaction record ofmember institutions of the block chain by a member institution of theblock chain.
 13. The method of claim 12, further comprisingcommunicating validation of the transaction record to the block chaindistributed network.
 14. The method of claim 12, further comprisingupdating a distributed ledger with information indicating validation ofthe transaction record.
 15. The method of claim 12, wherein the step ofvalidating the transaction record of a user comprises adding a signatureto the transaction record.
 16. The method of claim 15, furthercomprising receiving a verified request for the transaction record. 17.The system of claim 15, wherein the signature is unique to the sourcesystem.
 18. The method of claim 12, wherein the step of allowing accessto the information by a host system comprises allowing access to thedistributed memory in the block chain.
 19. A computer program productfor execution on a system operatively connected with a block chaindistributed network, the computer program product for using the blockchain distributed network for facilitating operation of a transactionrecord sharing system between member institutions, the computer programproduct comprising at least one non-transitory computer-readable mediumhaving computer-readable program code portions embodied therein, thecomputer-readable program code portions comprising: an executableportion configured to validate the transaction record of a user based onlogic rules for the block chain; an executable portion configured topost validated transaction record to distributed memory of block chain;an executable portion configured to access the validated transactionrecord of member institutions of the block chain; an executable portionconfigured to allow access to the validated transaction record of memberinstitutions of the block chain information by a host institution. 20.The computer program product of claim 19 further comprising anexecutable portion configured to attach an authentication key to thetransaction record.